When President Obama put out his "balanced" plan to avoid the automatic sequester cuts, no one noticed. His "plan" ended up being a list of numbers with little to back them up. He balanced plan actually counts hundreds of billions of new revenues from taxes, fees and rebates a "spending reductions."

• Then there's the $45 billion in spectrum fees and asset sales that Obama lists as spending reductions.

Viewed correctly, it turns out that more than $300 billion — about a third — of Obama's proposed "spending cuts" are actually revenue increases.

As a result, instead of $1.2 trillion in spending cuts called for by the sequester over the next decade, Obama would add more than $1 trillion in revenues, while cutting outlays only about $600 billion. And much of those aren't real cuts, but tiny reductions in projected spending growth over the next decade.

And in the end, his plan, such as it is, will do nothing to forestall the nation's oncoming debt crisis.

After four years, Obama's unseriousness as a president continues to surprise us.